• Raised A$134.1m via Charity Flow-Through Placement, Institutional Placement, and Canadian bought deal
• Intends to raise up to A$5m via non-underwritten Share Purchase Plan
• Funds will be used for resource growth, upscaled mining studies, and general corporate purposes

Firefly Metals Ltd (ASX: FFM, TSX: FFM) has announced a highly successful equity raising totaling approximately A$139m, which will underpin a concerted resource growth campaign and progress upscaled mining studies at its Green Bay Copper-Gold Project in Canada. The equity raising comprises a A$16.4m charity flow-through placement to Canadian investors, an A$85m institutional placement, and a A$32.8m Canadian bought deal financing. Firefly also intends to undertake a non-underwritten A$5m share purchase plan. The funds will be used for development and early works, technical studies including upscaled mine options, underground and regional exploration drilling, and general administrative and working capital purposes. Firefly Managing Director Steve Parsons said the successful raising will allow the company to embark on a major nine-rig drilling campaign to create further shareholder value, as well as progress towards a Final Investment Decision by derisking the project through upscaled mining studies.

The company has not provided any specific forward-looking financial guidance.

Firefly is focused on rapidly growing the copper-gold mineral resource at the Green Bay project to demonstrate a globally significant asset. The company also holds interests in the Pickle Crow Gold Project in Ontario and the Limestone Well Vanadium-Titanium Project in Western Australia.